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Supply is up, vacancy rates are higher, so rents are down. Except for Jamie's place ;-)

Real estate has always been cyclical- during some periods the dips have been more severe than in other areas. But overall the growth has been positive. While this doesn't guarantee growth in the future, I'd suggest that growth in a ten year cycle is more likely to be positive than negative...

I don't know the stats. I had an impression it wasn't as bad as the early 80s- I think the economy became a little more diversified after that.

I have two cottages in Lyneham. The rent has gone down slightly over several years. There is a very big new supply, especially high rises and especially around Belconnen. This site shows that average house rents have gone down 7.8% for the year. That site enables you to research by suburb.